Tianjin blasts expose accumulation risk facing maritime industry

Tianjin blasts expose accumulation risk facing maritime industry

Tianjin blasts expose accumulation risk facing maritime industry

The massive explosions at the Chinese port of Tianjin last month will be a major talking point for marine underwriters, brokers and other experts at the upcoming annual International Union of Marine Insurance (IUMI) conference starting on 13 September in Berlin. Those gathered will also focus on the growing threats posed by accumulation risk, huge container ships, cyber attacks and the ongoing soft market.

Tianjin loss expected to rise as Guy Carp estimates $3.3bn toll

Tianjin loss expected to rise as Guy Carp estimates $3.3bn toll

Tianjin loss expected to rise as Guy Carp estimates $3.3bn toll

Three weeks on from the series of explosions that ripped through the Chinese port of Tianjin the extent of damage and disruption remains unclear, however Guy Carpenter has placed insured losses up to $3.3bn and ratings agencies suggest that the eventual toll will likely top the initial $1bn to $1.5bn figures released immediately after the blasts.

Corporate round-up

Corporate round-up

Corporate round-up

Gallagher to enter Chinese specialty market via joint venture with Jiang Tai, Swiss Re Corporate Solutions names Marc Davis as country manager UK & Ireland, JLT to buy Hayward Aviation for £27m, Brokerslink appoints Corey Gooch to drive global business development, Robert Latimer joins ACE as env risk underwriter for UK & Ireland, IUA appoints new director for London market modernisation projects and Cunningham Lindsey upgrades iSite video claims system.

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